Supreme Court of the State of Delaware Rules Against Akorn, New CEO Search Underway
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
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Source: GlobeNewswire
LAKE FOREST, Ill., Dec. 07, 2018 (GLOBE NEWSWIRE) -- Akorn, Inc. (NASDAQ: AKRX) today said it will move forward and rebuild shareholder value as an independent company following the disappointing decision from the Supreme Court of the State of Delaware upholding the lower court’s decision to allow Fresenius Kabi AG to terminate the April 2017 merger agreement. With the litigation process concluded, Akorn’s Board of Directors announced that it is engaged in a formal search for a new chief executive officer to lead the company into its next phase. Current CEO Raj Rai has decided to retire and will assist the board to ensure a smooth transition and remain in his role until the hiring date of the new chief executive. “We recognize that this has been an extended period of uncertainty for Akorn’s customers, employees and investors and the Board is committed to ensuring the company’s stability and long-term growth,” said Board Chairman Alan Weinstein. “While there is work to do, Akorn’s
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